{"id":510054,"date":"2018-03-05T03:22:11","date_gmt":"2018-03-05T03:22:11","guid":{"rendered":"http:\/\/coinhash.co\/paypal-is-seeking-faster-crypto-payments-tech-coindesk\/"},"modified":"2018-03-05T03:22:11","modified_gmt":"2018-03-05T03:22:11","slug":"paypal-is-seeking-faster-crypto-payments-tech-coindesk","status":"publish","type":"post","link":"https:\/\/www.free-ebooks.net\/crypto\/paypal-is-seeking-faster-crypto-payments-tech-coindesk\/","title":{"rendered":"PayPal Is Seeking Faster Crypto Payments Tech – CoinDesk"},"content":{"rendered":"
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Looks like PayPal wants to move crypto faster.\u00a0<\/div>\n
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An application<\/a> for an “Expedited Virtual Currency Transaction System” published on March 1 by the U.S. Patent and Trademark Office (USPTO) details a method by which private keys – the strings of numbers and letters used to transact or otherwise control one’s cryptocurrency holdings – are swapped from a buyer to a seller behind the scenes.<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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The aim of the concept is to narrow the amount of time it takes for payments to go through between a consumer and a merchant, avoiding the process of sending a transaction and waiting for it to be included in the next block on the network. To do this, PayPal proposed a way to create secondary wallets with their own unique private keys for buyers and sellers. The system would transfer private keys corresponding to an exact amount of any given cryptocurrency.<\/p>\n

As the filing explains:<\/p>\n

“The systems and methods of the present disclosure practically eliminate the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction by transferring to the payee private keys that are included in virtual currency wallets that are associated with predefined amounts of virtual currency that equal a payment amount identified in the virtual currency transaction.”<\/p>\n

The submission is a notable one, coming years after PayPal announced<\/a> partnerships with several bitcoin payment processors that allowed merchants to accept the cryptocurrency through the company’s Payments Hub starting in 2014.<\/p>\n

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\"Quantcast\"<\/div>\n

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This article originally appeared at: https:\/\/www.coindesk.com\/paypal-eyes-instant-crypto-payments-tech\/.<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Looks like PayPal wants to move crypto faster.\u00a0 An application for an “Expedited Virtual Currency Transaction System” published on March 1 by the U.S. Patent and Trademark Office (USPTO) details a method by which private keys – the strings of numbers and letters used to transact or otherwise control one’s cryptocurrency holdings – are swapped […]<\/p>\n","protected":false},"author":1019,"featured_media":509949,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[100550],"tags":[459,100585,100593],"class_list":["post-510054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-cryptocurrency","tag-ecommerce"],"_links":{"self":[{"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/posts\/510054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/users\/1019"}],"replies":[{"embeddable":true,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/comments?post=510054"}],"version-history":[{"count":0,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/posts\/510054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/media\/509949"}],"wp:attachment":[{"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/media?parent=510054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/categories?post=510054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.free-ebooks.net\/crypto\/wp-json\/wp\/v2\/tags?post=510054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}